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News Breaks
April 1, 2014
12:05 EDTJCP, HLFStocks with call strike movement; HLF JCP
Herbalife (HLF) August 67.50 call option implied volatility decreased 2% to 56, J.C. Penney (JCP) August 10 call option implied volatility decreased 1% to 56 according to IVolatility.
News For HLF;JCP From The Last 14 Days
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November 25, 2015
12:01 EDTHLFHerbalife says 'obviously pleased' with dismissal of Abdul Awad lawsuit
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10:45 EDTHLFJudge dismisses shareholder suit against Herbalife for third time, Reuters says
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09:44 EDTHLFHerbalife wins third dismissal of suit over business practices, Reuters reports
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November 24, 2015
06:20 EDTJCPRetailers hunt for new breaches after warning on malware, Reuters says
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November 17, 2015
16:42 EDTHLFJustice Department announces criminal charges against supplement maker USPlabs
The U.S. Department of Justice, along with partners at the Food and Drug Administration, Federal Trade Commission, Postal Inspection Service, and Internal Revenue Service, announced a "nationwide sweep" targeting more than 100 makers and marketers of dietary supplements. The agencies noted, "The actions discussed today resulted from a year-long effort, beginning in November 2014, to focus enforcement resources in an area of the dietary supplement market that is causing increasing concern among health officials nationwide. In each case, the department or one of its federal partners allege the sale of supplements that contain ingredients other than those listed on the product label or the sale of products that make health or disease treatment claims that are unsupported by adequate scientific evidence." Among the cases announced Tuesday is a criminal case charging USPlabs and several of its corporate officers with various counts associated with the unlawful sale of dietary supplements, obstruction of an FDA proceeding, and conspiracy to commit money laundering. The Department also filed in the past week five civil cases seeking injunctive relief against a number of businesses and individuals that allegedly sold supplements as disease cures or that were otherwise in violation of the law. The cases involve various entities, including Vibrant Life, Viruxo, Optimum Health, Bethel Nutritional, VivaCeuticals, and Regeneca, said the agency. Note that shares of GNC (GNC), Herbalife (HLF), Vitamin Shoppe (VSI), and Natural Health (NHTC) all slipped Tuesday following early reports of criminal charges in the dietary supplement space. Reference Link
15:10 EDTHLFDOJ files indictment against USPLabs over Supplements, FDA Law Blog says
Shares of GNC Holdings (GNC), Vitamin Shoppe (VSI), and Herbalife (HLF) were all weak this afternoon on concerns that they would be the target of the FDA's action. Reference Link
13:09 EDTHLFHerbalife says not aware of being named in DOJ supplement action, Bloomberg says
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12:35 EDTHLFHerbalife puts active on headlines of DOJ briefing on supplement actions
Herbalife November 47 and 50 puts are active on total put volume of 9,800 contracts (2,400 calls) following Bloomberg headlines of DOJ briefing on supplement actions. November put option implied volatility is at 113, December is at 55; compared to its 52-week range of 34 to 126. Active put volume suggests traders taking positions for wide price movement.
12:28 EDTHLFGNC, Vitamin Shoppe, Herbalife at lows following DOJ supplement advisory
The Department of Justice said in a media advisory that it plans to announce at 3:30 pm today its actions related to dietary supplements sales and unlawful ads. Following the press advisory, shares of GNC Holdings (GNC), Vitamin Shoppe (VSI) and Herbalife (HLF) are at session lows, though none of the companies were named in the advisory.
10:13 EDTJCPJ.C. Penney management to meet with Buckingham
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November 16, 2015
17:10 EDTHLFSoros took stake in Paypal, liquidated Herbalife stake
Soros Fund Management gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Paypal (PYPL), CIT Group (CIT), Schlumberger (SLB), Kraft Heinz (KHC), and Amazon (AMZN). INCREASED STAKES: Allergan (AGN), Lions Gate (LGF), Energen (EGN), Southwest Airlines (LUV), and Qunar Cayman Islands (QUNR). DECREASED STAKES: LyondellBasell (LYB), YPF (YPF), Time Warner Cable (TWC), Dow Chemical (DOW), and Monsanto (MON). LIQUIDATED STAKES: Herbalife (HLF), Lennar (LEN), DR Horton (DHI), United Continental (UAL), and Nice Systems (NICE).
16:29 EDTJCPJ.C. Penney announces plans to retire $500M asset-based term loan
J. C. Penney Company announced that it has received $500M of incremental bank commitments to increase the size of the Revolving Line of Credit under its existing Senior Secured Asset-Based Credit Facility to $2.35B from $1.85B. In connection with upsizing the revolving credit facility, the Company also intends to prepay and retire the outstanding principal amount of its $500M Term Loan previously issued under the ABL, which is scheduled to mature in June 2019. The Company expects to close these transactions in December.The Company expects that retirement of the ABL Term Loan will reduce interest expense by approximately $20M annually, beginning in 2016. The $2.35B ABL revolving line of credit, which will also mature in June 2019, will remain available for seasonal working capital needs and general corporate purposes. Marvin Ellison, chief executive officer, said, "We proactively pursued this transaction to reduce our long-term debt and ongoing interest expense and to further enhance our financial flexibility while maintaining our strong liquidity position as we continue to make progress on our goal of $1.2B in EBITDA by 2017."
11:35 EDTJCPDillard's sinks to 52-week low after joining chorus of 'disappointed' retailers
Shares of Dillard's (DDS), a retailer of fashion apparel, cosmetics and home furnishing, are falling to their worst level in a year after the company became the latest in its industry to report lower than expected third quarter results. WHAT'S NEW: This morning, Dillard's reported Q3 earnings per share of $1.19 and revenue of $1.435B, narrowly missing analysts' consensus estimates of $1.20 and $1.49B, respectively. Same-store sales for the quarter fell 4%. Total merchandise sales decreased 3% for the 13-week period ended October 31. Weaker performing categories were men's apparel and accessories and ladies' accessories and lingerie with notable weakness in home and furniture the company explained. Dillard's Chief Executive Officer, William T. Dillard, II, stated, "We are disappointed with our third quarter sales performance and in the resulting decline in profit. Share buyback remained a high priority, and we repurchased $175 million of stock under our share repurchase program." WHAT'S NOTABLE: Gross margin from retail operations improved 11 basis points of sales for the 13 weeks ended October 31 compared to the prior year third quarter. Consolidated gross margin for the 13 weeks ended October 31 declined 30 basis points of sales compared to the prior year third quarter. The disparity between retail and consolidated gross margin performance is attributable to increased revenue at CDI, which is a substantially lower margin business. Inventory increased 6% at October 31 compared to November 1, 2014. For FY15, the company expects capital expenditures of $150M. PRICE ACTION: In late morning trading, Dillard's fell $5.81, or 7.5%, to $71.79 on more than three times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $68.05. Including today's pull back, the shares have lost about 36% over the past 12 months. OTHERS TO WATCH: Other apparel, cosmetics and home furnishing retailers include Macy's (M), Kohl's (KSS), JC Penny (JCP), Sears (SHLD) and Nordstrom (JWN).

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